Dislikedi did not mean to offend anyone, let alone auslanco...i just wanted to see the strategy and i was also pained at all this emotional upheavals for both profits and losses....thats all....Ignored

Auslanco-GBP/JPY Strength Indicator strategy 345 replies
Auslanco 15min GBP/JPY startegy 630 replies
My MT4 indicators for Auslanco's strategy 92 replies
Auslanco 15 minute Strategy Oanda FXManager Updates.. 62 replies
Questions About Auslanco's Trades 72 replies
Dislikedi did not mean to offend anyone, let alone auslanco...i just wanted to see the strategy and i was also pained at all this emotional upheavals for both profits and losses....thats all....Ignored
Dislikedtacit,
for longs, tp would be 5 pips less than the resistance and sl would be around 7-8 pips less than the support....Ignored
Disliked1 Hr 5sma retracement has been hit.
Now does it keep going south? or does it head north?
P.O.P.Ignored
Dislikedauslanco,
of course u dont need to tell ur strategy...but i guess u were the one who promised to reveal it over the weekend...is the weekend not over for u yet??Ignored
DislikedWe have seen levels above 241 already.And as the 4H is bullish now,So can we se levels under 239-238 today Aus?Ignored
DislikedAus..what is that mean when this two line meet together in strength Indicator?Ignored
Going out on a limb!
What I have to say will only disappoint you if you are looking for complex TA analysis or discussion. I probably shouldn't be here since this seems to be all that is discussed... but after all we are all trading the GBPJPY, right?
You ask about a snapshot of my charts. I'm here to learn about this pair and not promote any other trading system or form of analysis but I do use MTF analysis (multiple time frames) and have discovered somewhat on my own that time frames in multiples of 6 seem to produce easier to read wave patterns.
Just simply looking at a simple 4Hr price chart (I use candlesticks) viewing it as waves. It made a big drop 5 time frames (beginning 7-26-07 00:00GMT through 16:00GMT) and subsequently there followed two time frames of consolidation upward (taking a breather) and then resumed the downward move through another 5 time frames into Friday's close with a pause and beyond including the gap down into today’s action. Now it has gone through another two time frames of consolidation / retracement or whatever you want to call it. And, only time will tell what it should be called. For now, it's resting and perhaps attempting to build strength for a continuation down (or up).
Just looking at the time frames and the patterns displayed if the past two large waves (movements) down are any indication of what is to come you should expect this 'pause' to take up to 8 hours (as it has) and then continue on again into the current downward trend should that occur in the 3rd time frame through 08:00GMT. I'm not absolutely predicting what is to come in the coming 3 hours but there is reason to assume from these patterns it may have completed it’s 2 time frame rest as it back tracked up as it has and then turn over and go down to wherever you TA guys might predict it should go. Even Auslanco's best earlier estimate was an entry around 239.90 with a stop as high as 240.92 to anticipate some of this consolidation. We’ve certainly gotten more than intended but it still should be suspected and prepared for.
You can't ask a sprinter (in this case a 440 sprinter) to complete one full lap around the field at a full sprint and then ask him to start another sprint lap without a pause.
One thing to note… these waves often break down after 2 or 3 larger movement so it can never be assumed that it would continue another 5 down and 2 back up. When this trend reversal from bullish to bearish began several trading days ago it didn’t take this pattern. It was gradual. Now only in the last 2 large waves has there been a sharp drop. It will be interesting to see what will develop following this rest.
Off line I might tell you what charting package I use.... it's never been mentioned here or on the other GBPJPY site and I'll never bring it up. I'm not into promotions (other than my own ego).... but simple price charts using what Auslanco is recommending (4Hr and 1Hr time frames) correlates somewhat with what I use. I still like candlesticks for confirmation of what I do and continue to learn and study their meaning. I suppose I should take advantage of learning some TA while I'm here lurking in the shadows of this thread.
Funny thing, I began writing this back when it was completing the 2nd consolidation wave. Now we see that in the 4Hr charts this was completed at 08:00GMT and is now in the "wait and see" 3rd 4Hr time frame. It is moving back down as the patterns of the recent past have suggested. Will it continue further down remains to be seen.
I think "A" often mentions the same... with his indicators.. often waiting for confirmation and direction… still not drawing any final conclusions until confirmations from multiple bars / candles. Your TA probably tells you how much this retracement means and the probabilities of it reversing back to a bullish trend or continuing on down.
The last downward wave (244.26 to 238.28) was nearly 600 pips and now we have seen a consolidation (?) wave of about 322 pips to 241.50 and now back down to ~240.50. You TA guys can shed light on what that means.
To me, I see things in waves. I suppose it would have to again move all the way up to and break through and well past ~241.50 (one of the earlier downward moves late last week) before I would consider a reversal in this current trend and resume the greater bullish trend.
Auslanco's earlier recommendation was a SL if it hits 239.92 which affected many here so we are protecting our trading accounts with that guidance... and I appreciate what I am learning from him (generally for now and more specifically in the future) about this particular currency pair and how it behaves. That's why I'm here.
Another thing I like to look at are the psychological price points / barriers using whole numbers in increments such as 100, 50 and 25 seem to add further levels of resistance or support. So, now we may see some further ranging between 240.50 and 241.50 until the market decides to go bullish or bearish. Change that… it below 240.50. I’m back into a profit since I entered at 240.50 about 3 hours ago and I’ve decided to exit at 240.29 for ~100 pips profits on 5 minis. I’ll sit on the sidelines until this 3rd 4Hr time frame reveals the direction of this pair.
Dr. D.
DislikedMaybe i can help you to find the link, Mike...
This thread is a very good one, i learned much...
http://www.forexfactory.com/showthre...?t=3690&page=2Ignored
DislikedIs to early to decide G/Y will go down or up..
H1 Chart : Momentum pointing sideway..MACD haven't show down trend.
H4 Chart : Momentum pointing down but MACD show sideway...
Correct me if im wrongIgnored
DislikedThere is no strength indicator in VT. It is a custom indicator that you have to buy.
MikeIgnored